Duke Makes Big Strides at Lehigh Valley Park
- Aug 31, 2017
At its 33 Logistics Park in Easton, Pa., Duke Realty Corp. both leased its recently delivered 628,475-square-foot bulk warehouse and started construction of a 1.015-million-square-foot spec industrial building, the company announced Tuesday.
Easton is just off Route 33, on the east side of the Lehigh Valley and roughly 50 miles north of Philadelphia.
The park’s new tenant has not been named, and Duke is describing it only as “a leading national third-party logistics company.” The building in question, 33 Logistics Park 1611, was delivered in early July.
33 Logistics Park 1620, the new building under way, will be Duke Realty’s third in 33 Logistics Park. Financial information was not disclosed for either building.
The park’s initial building was a 1.1 million-square-foot, bulk warehouse that was completed in 2016. Jeffrey D. Palmquist, Duke’s senior vice president, Northeast Region, confirmed to Commercial Property Executive that Amazon occupies that building and that the third building, now under construction, will complete the industrial portion of the park.
Lee & Associates of Eastern Pennsylvania’s Senior VP Dave Saltzman and Founding Principal Brian Knowles represented the unidentified new tenant.
“Our tenant’s customer had outgrown their existing space in the Lehigh Valley, but wanted to remain in the market to effectively service their clients throughout the Northeast. 33 Logistics Center 1611 was an ideal building for them because it gave them the additional space they need, plus keeps them in a location that is strategic to their operations,” the two men said in a prepared statement.
Matt Bremner and Cait English with Duke Realty and its listing agents Bill Wolf and Sean Bleiler, both with CBRE, represented Duke Realty in the transaction.
Delivery on 33 Logistics Park 1620 is scheduled for April 2018. In addition to 36-foot clear height, the cross-dock building will feature LED lights, 120 fully equipped dock doors, four drive-in doors and parking for 245 trailers and 472 automobiles.
“The Lehigh Valley continues to be one of the nation’s most in-demand distribution hubs,” Palmquist said in a prepared statement, because of its excellent access to the New York City metro area. 33 Logistics Park, he added, has ready access to I-78, I-81 and I-80.
Photo courtesy of Duke Realty